Based on the data and analysis provided, here are key takeaways for each market:
Seattle Metro Area (King County)
- Inventory: Active listings declined significantly in June, down 19% year-over-year.
- New Listings: New listings dropped by 20% over the quarter compared to last year.
- Days on Market: Time on market increased sharply, up 37% from a year ago.
- Sales Activity: Closed sales were down 6% for the quarter overall but showed some improvement in June with a 15% increase.
- Price Trends: Median sale prices decreased by 4.2% over the quarter.
Conclusion: The Seattle market remains heavily tilted towards buyers, with low inventory and high days on market indicating weak seller conditions. Prices have softened significantly.
Portland Metro Area (Multnomah County)
- Inventory: Active listings were up 13% year-over-year in June.
- New Listings: New listings increased by 20% over the quarter compared to last year.
- Days on Market: Time on market decreased slightly, down 4.5% from a year ago.
- Sales Activity: Closed sales grew by 7
Read the full article at Windermere Real Estate
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Ali NematiWritten by Ali
